The Law Dictionary

LIMITED PARTNER

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

As opposed to a general partner, a limited partner has limited liability for the debts incurred by the corporation. The limited partner does not participate in the management of the company and may also be a sielnt partner. … [Read more...]

LINEAL CONSANGUINUITY

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

Blood relatives who are in a direct line of descendancy, e.g. grandfather, father, son, grandson. … [Read more...]

LIMITED PARTNERSHIP

TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.

Provides a method where a partnership may increase its capital investment from investors who will play little or no role in business decisions. General partners manage the business while limited partners are passive investors and not allowed to make day-to-day business decisions or else they will face the same exposure to liability as general partners. States may also provide … [Read more...]

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